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Highland-Clarksburg Hospital Announces $34.8 Million Loan Through Huntington Bank And USDA

Stocks in this article: HBAN

Highland-Clarksburg Hospital officials are pleased to announce they have closed on a $34.8 million construction loan syndicated through Huntington National Bank for necessary renovation costs on the Highland-Clarksburg Hospital (HCH). The newly formed Highland-Clarksburg Hospital Inc. (HCHI) was approved to operate a 150-bed behavioral health facility in the former United Hospital Center (UHC). More than 200 construction jobs will be created by the renovation project. Once fully operating, Highland plans to employ 294 staff members.

“With the funds in hand, we are finally prepared to begin the work,” said Mike Casdorph, Director of Facility Development and Construction for Highland. “Renovations and construction started on January 15, 2013,” he added.

Huntington and Highland-Clarksburg Hospital worked with USDA Rural Development, which is providing the hospital with a $21 million loan through its Community Facilities Program in addition to $13.8 million in permanent financing provided by Huntington. Highland has secured the firm of Associated Architects for the design plan and RC General Contractors as the Construction Manager.

“Highland is profoundly dedicated to individual, family and community well-being,” said Andy Paterno, Huntington Bank’s West Virginia Regional President. “Huntington shares Highland’s commitment to West Virginia and to helping finance a project that will bring jobs to the area. This is a great example of a public and private partnership between state, federal programs and local banks,” he added.

“The unwavering support from City of Clarksburg officials, Harrison County officials and Governor Tomblin’s office has been remarkably steadfast,” said Jim Dissen, Chairman and CEO of Highland Hospital. “Huntington is helping us lead the way with a financial package that merges federal funding with a sophisticated understanding of our approach to meeting the community’s healthcare needs and the vital difference we will be able to make through this expansion.”

UHC donated the facility to Highland in December of 2010. On December 1, 2011 the West Virginia Health Care Authority rendered their decision to approve Highland’s Certificate of Need (CON).

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